Two federal programs that helped federal student loan borrowers ease back into payments are ending. It will have the biggest impact on borrowers with defaulted loans or borrowers who miss payments moving forward.

According to the Consumer Financial Protection Bureau, $100 million will be used to make payments to impacted borrowers in a settlement with the former servicer of student loans.

President Biden announced the relief for attendees of the now-shuttered art schools, saying they "falsified data, knowingly misled students, and cheated borrowers into taking on mountains of debt."

Because of past administrative failures, the some 78,000 affected public service workers such as nurses and teachers never got the relief they were entitled to under the law, Biden said.

The foundation has launched a “reverse scholarship” pilot program that will pay off up to $30,000 in student debt for borrowers.

By a 6-3 vote along ideological lines, the Supreme Court has struck down President Biden's plan to forgive some or all federal student loan debt for tens of millions of Americans.

The president has extended the student loan repayment pause into 2023. Biden said he wants to give lawsuits against debt cancellation time to play out, and the Supreme Court time to weigh in.

The Eighth Circuit Court of Appeals issued the stay, ordering the Biden administration not to act on the program while it considers a motion from six Republican-led states to block loan cancellation.

The cost of the White House's student loan forgiveness plan is an estimate over a 30-year period and will add to the country's deficit, the Congressional Budget Office said in a report.

In a letter to Biden, Republican governors say they support "making higher education more affordable" but don't want to "force American taxpayers to pay off the student loan debt of an elite few."

The measure would free some borrowers from debt incurred by spouses – sometimes abusive ones – and could lay a path toward loan forgiveness.